Amwal Tech
Pay now, split securely — bank-backed instalments up to 24 months
Jeddah, Saudi Arabia · Founded 2022 · $6.5M raised
- Headquarters
- Jeddah
- Employees
- 11–50
- Founded
- 2022
- Business Model
- B2B2C
- Website
- amwal.tech
- Total Funding
- $6.5M
- Last Round
- $4.0M SeedFeb 2023
- Rounds
- 2
About
Amwal Tech is a Saudi Arabia-based fintech company providing bank-powered BNPL infrastructure and embedded finance solutions that enable Sharia-compliant credit card installment plans at checkout. The platform connects banks, merchants, and customers, allowing shoppers to split purchases into 3- to 24-month interest-free plans using their existing credit cards — without new apps or SIMAH checks — while retaining loyalty points and rewards. Founded in 2022 and regulated by Saudi Payments (SAMA) under license PSP013, Amwal Tech partners with leading Saudi banks including Al Rajhi, Riyad Bank, SNB, and Alinma, and serves merchants such as IKEA, Syarah, and Abyat.
Summary
Amwal Tech is a Fintech company based in Jeddah, Saudi Arabia, founded in 2022. It has raised $6.5M in total across 2 rounds, most recently a $4.0M Seed round in Feb 2023. Investors include Shorooq Partners, TA Ventures and Outliers Venture Capital.
Tech & App Stack
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Funding History
Feb 2023
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Investors
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